![\"copper-cable.jpg\"](\"http:\/\/static.businessinsider.com\/image\/4a8ee0d1a77c37781c1f8761-400-\/copper-cablejpg.jpg\")
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China’s largest auto parts maker forecasts that Chinese demand for copper could surge another 12% this year.<\/p>\n
Copper is used for wiring in buildings, infrastructure, cars, and appliances, thus says much about growth in the economy.<\/p>\n
Hellenic Shipping News:<\/a><\/p>\n “Consumption is still strong,” driven by continued economic growth, said Sheng Weimin from the unit of Wanxiang Group, the country’s largest auto-parts maker. Demand, including refined and scrap copper, may climb to 8.96 million metric tons, said Sheng, who’s studied metals markets for more than 15 years.<\/p>\n …<\/p>\n “Demand from downstream consumers is very good, their order books are full, but they are buying hand-to-mouth because no one wants to hold too much inventory in these uncertain times,” Sheng said, referring to car parts and appliance makers.<\/p>\n This comes on the heels of Australian miner Rio Tinto forecasting that global demand for copper, plus iron ore and aluminum, will double over the next fifteen years<\/a>.<\/p>\n